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PEACE AND STABILITY: THE BEDROCK OF OUR ECONOMIC RECOVERY AND DRIVER FOR GOOD GOVERNANCE

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Esteemed colleagues, Gentlemen of the Press We are gathered here today at An important moment in our nation’s history. A moment sign posted by a combination of challenges and opportunities.

Challenges because Nigerians are passing through unintended economic challenges occasioned a few of the bold policy decisions taken by this administration.

Opportunities because our economy is being refined and recalibrated for better future and when dialogue is a stronger pedestal for good governance.
Economic prosperity for the nation remains the ultimate goal of the administration of President Bola Ahmed Tinubu because it is the engine that drives progress, lifts families from poverty, and builds strong, resilient societies.

To achieve this goal, we must enjoy peace and stability because it is the cornerstone upon which we build trust, cooperation, and shared purpose. When peace reigns, policies yield results, businesses thrive, investments flourish, and creativity is unleashed.

This administration at inception in May 2023 inherited an economy in need of urgent , bold and imaginative reforms. Policy measures including removal of an unsustainable fuel subsidy regime had to be taken.

This, it must be admitted has resulted in unexpected adjustments that impacted all facets of the economy and our daily lives.The administration similarly inherited a security situation that had existed for two decades and required greater attention in terms of upgrade of security architecture, infrastructure, systems, capability and capacity of personnel.

This has compelled massive infusion of scarce resources from our already dwindling revenue. The objectives have been to secure lives and property, build foreign investors’ confidence, and increase food production by returning our communities to their homes and farm lands in safe and secure environment.President Bola Ahmed Tinubu sought the mandate of Nigerians to lead the nation at this difficult time because he knew that effective leadership was required to address the challenges that had accumulated over several years.

That was why he sought to renew the hope of Nigerians.Within a space of fourteen months of purposeful leadership, the administration has recorded tremendous accomplishments that laid the foundation for immediate, medium and long term prosperity of Nigerians, in an inclusive manner. Let me avail you a few concrete cross cutting examples of achievements.

This is in addition to those specific accomplishments from twenty Ministries as contained in the annex to this briefing. Labour Sector and the Masses:

(a). Consequent upon the impact of the removal of subsidy, the President, working with the Governors released the sum of five billion Naira to each State to cushion the impact in an inclusive manner that prioritised the poor, vulnerable and the elderly;

(b).Mr. President approved a Wage Award of Thirty-five Thousand Naira for a period of six months to cushion the effect on workers. This award was higher than the minimum wage

(c). Mr. President has just signed into law a new National Minimum Wage Act which prescribed N70,000:00. This represents more than 100% increase from the last minimum wage (30,000) and takes retroactive effect from April

(d). Currently, as we speak, States, through their Governors, are receiving twenty trailer loads of assorted grains per state, approved by the President for distribution to citizens.

This is intended to cushion the high cost of foodstuff

(e). Government has removed tariffs on imported food items to bring down the prices of food stuff

(g). Farm inputs including fertilisers, are also being made available to farmers at highly subsidised rates to boost food production and reduce cost. Mr President has also approved the release of sixty four trailer loads of fertizers to each state to boost agricultural production.

(h) The Agricultural land development Agency has also been repositioned to facilitate land preparation for farmers(h). Recently the President established the Ministry for Livestock Development in order to address the challenges in the sector and facilitate access to affordable protein by Nigerians and boost export.

(ii). Infrastructure Development & IndustriesRoad and other critical infrastructure are being developed across the nation as part of long term measures to reposition the economy and ease movement on the roads and by rail.The Bank of Industry is also being supported to fund the growth of MSMEs in the industrial sectorRecently, the Renewed Hope Infrastructure Plan was unveiled as a catalyst for economic boom. Railways infrastructure is also being developed across the nation to facilitate affordable transportation by the citizens

(III). SOCIAL SAFETY NET PROGRAMS

Curently, over 15 million indigent, poor and highly u=vunerable families are beneficiaries of the family support cash grants by the FG (iv) LOCAL GOVERNMENT AUTONOMY

(a). As part of the efforts of the FG to take development to the grass roots, the government approached the Supreme Court for a decision on the funding of LGAs in Nigeria.

The favourable judgement has now set the LGA on the path to their financial and development autonomy.

(v). Ministry of Livestock development :

(a). For the first time in our nation, the President created a stand alone Ministry for the Youth that account for a large percentage of our population

(vi) YOUTH DEVELOPMENT

(a). Under the N35 Billion Nigerian Education Loan Fund (NELFUND) approved beneficiaries have exceeded the 40 thousand mark, of the expected 70 thousand beneficiaries. Ladies and gentlemen, it is in the light of these aforementioned situation and accomplishments that we wish to inform you that Nigeria is work in progress and in due course, we shall breath a sigh of relief. The on-going economic hardships would abate very soon and we shall all enjoy endless prosperity.We therefore appeal to Nigerians of whatever persuation, belief, demography, gender and status to shun calls for protest against hunger by prioritising paece and progress.

For the avoidance of doubts, the government of President Tinubu recognises the right to peaceful protest but circumspection and vigilance should be our watch words. Government is weary of the dangers associated with protests that are vulnerable to being highjacked by bandits, insurgents and other criminals. Rather, we request that dialogue should be advanced and we remain open to such.Our appeal is that Nigerians should please pursue the path of peace, dialogue and collaboration in addressing the challenges that collectively confront us. Please go about your legitimate businesses and avoid actions and/or association that are capable of disturbing the peace of th country. Remain vigilant as well .Let me reassure you that together, we shall create a Nigeria where peace and stability are not merely aspirations but realities, where economic growth is not just a goal but a tangible outcome, and where the dreams of our people are transformed into a shared national destiny.

Thank you for listening

….. speech by Senator Akume SGF at a Special Press Briefing on Wednesday, held in Abuja, July 31, 2024.

NEWS

Ododo Donates N35m for Takete-Ide Town Hall Project

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From Joseph Amedu, Lokoja

Kogi State Governor, Ahmed Ododo has donated N35 million for the completion of the ongoing community Town Hall project in Takete-Ide Amuro, Mopamuro Local Government Area.

The governor also promised and reaffirmed his administration’s commitment to fix the Orokere-Ayede-Takete Ide road where the Owowo Bridge is located.

Ododo made the pledge over the weekend, at the 2026 Takete-Ide Amuro Centenary Celebration and Development Fundraising, where he was represented by the Speaker, Kogi House of Assembly, Rt.

Hon. Aliyu Umar Yusuf.

The governor described the centenary as a celebration of 100 years of history, heritage and the remarkable journey of Takete-Ide Amuro since its settlement in its present location in 1926.

The governor commended the community’s spirit of self-help, noting that its first primary school, secondary school and health centre were built through communal efforts before government intervention.

He said the ongoing Town Hall and Palace projects were important initiatives that will strengthen community administration and preserve traditional heritage, pledging government’s support within available resources.

“On a personal note, I have released funds of N35 million towards the completion of the Town Hall project as my personal contribution to the development of this community,” Ododo said.

On infrastructure, the governor said he was aware of the deplorable condition of the Orokere-Ayede-Takete Ide road, particularly the Owowo Bridge, which had been brought to his attention by his cabinet member from the area.

“Our engineers are assessing the situation and I want to assure you that we will attend to the road in due course. When we make a promise, we are committed to ensuring that it is fulfilled,” he assured.

Ododo urged youths to sustain the legacy of communal development, embrace education and entrepreneurship, and called on sons and daughters in the diaspora to invest in the community.

He also urged residents to cooperate with security agencies and provide credible intelligence to safeguard lives and property.

The Chief Host and Chairman, Central Planning Committee, Hon. Kingsley Fanwo, who is also Commissioner for Information and Communication, said the centenary marked 100 years since the community moved to its present location in 1926.

He called for unity, noting that the community achieved its early schools and health centre through communal efforts.

The Alamuro of Amuro Kingdom, HRM Oba Alfred Modupe Aiyedogbon, said the celebration provided an opportunity to showcase the culture of the people and draw government attention to challenges, especially the bad road and bridge.

He urged communities to embrace self-help, noting that the government cannot do everything, and called for peace, saying Amuro remains one of the most peaceful communities in Kogi.

The Baale of Amuro Kingdom, Chief Eric Fiki, said the week-long event was to honour past heroes, celebrate the living and raise funds to complete the town hall and palace projects.

Fiki said the community believes in self-help but still deserves government presence, adding that the community is fully in support of Gov. Ododo and President Bola Tinubu.

The National President, Takete-Ide Progressive Union (TIPU), Prince Richard Fiki, said the centenary was about heritage, peace, love and unity, aimed at promoting culture and attracting investment and government intervention in agriculture and other areas.

Highlight of the occasion was conferment of honorary chieftaincy titles on personalities for contributions to community development, cultural displays and presentation of gifts to the Special Guest of Honour.

One of the recipients, Chief Adekunle Abogun, the Gbobaniyi of Takete-Ide, said giving back to the community should not wait until one has billions, stressing that the government cannot do everything and individuals must support health, education and infrastructure.

The celebration brought together government functionaries, traditional rulers, lawmakers and sons and daughters of Takete-Ide Amuro at home and in diaspora.

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Business News

NELFUND Loan Improves Graduate’s GPA to 3.50

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A graduate of the University of Maiduguri, Shianya Ebwaseh, said the Nigerian Education Loan Fund (NELFUND) helped improve her Grade Point Average (GPA) to 3.50 through financial support that enabled her to concentrate on her studies.

Ebwaseh, who graduated from the Department of Zoology, Faculty of Life Sciences, said this in an interview on Monday in Maiduguri.

She said financial difficulties had previously affected her academic performance, as she struggled to meet her daily needs while pursuing her degree.

The graduate said she resorted to selling fried chips and groundnuts on campus to support herself, sometimes missing lectures because of the time and energy required to run the business.

According to her, the introduction of NELFUND’s student loan scheme relieved her financial burden through tuition support and a monthly N20,000 upkeep allowance.

“Before NELFUND, I struggled with my GPA because of financial challenges. I sometimes missed lectures after spending hours frying and packaging chips for sale.

“But when NELFUND came, I stopped the business and concentrated on my studies. My GPA improved to 3.50, which is Second Class Upper,” she said.

Ebwaseh said the financial support also enabled her to attend lectures regularly, purchase learning materials and prepare adequately for tests and examinations without constant worries about money.

She added that her examination scores improved significantly after she began receiving the support, attributing the change to increased concentration and financial stability.

The graduate, who said she accessed the scheme in her third year, described the application process as simple and encouraged other eligible students to apply.

She also said the programme had helped financially disadvantaged students remain in school, particularly those whose parents could not afford tuition fees and upkeep.

Ebwaseh appealed to the Federal Government to sustain the initiative, emphasising that withdrawing the support could expose many students to financial difficulties and possible dropout.

She said the scheme had given beneficiaries an opportunity to pursue their academic ambitions with fewer financial distractions.(NAN)

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Business News

FG Seeks Synergy Among Housing Agencies to Boost Housing Delivery

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The Minister of Housing and Urban Development, Dr Muttaqha Darma, has called for synergy among government agencies in the housing sector to improve coordination and accelerate housing delivery.

Darma made the call in Abuja on Monday at the stakeholders’ conference on the proposed National Real Estate Regulatory Authority (NRERA).

The conference, themed “One vision, One Ecosystem, One National Housing and Real Estate Plan”, was organised by the Office of the Speaker, House of Representatives, and the House Committee on Housing and Habitat.

The minister said the lack of coordination among government agencies had affected the effective delivery of houses to Nigerians, noting that institutions in the sector operated independently.

“The players within the industry, all of us, operate in silos.

“Federal Housing Authority (FHA) does not even know what the Federal Mortgage Bank of Nigeria (FMBN) is doing. FMBN does not know what the Ministry of Finance Incorporated (MOFI) is doing,” he said.

According to him, the various institutions must work together towards a common goal rather than operate independently.

“Our target is to build houses for Nigerians. We are wasting our time because if we fail, it is us who fail, not the President,” he said.

The minister expressed support for the establishment of NRERA, saying the proposed authority would address the regulatory gaps in the real estate sector.

He said the ministry had reviewed the proposed legislation and recognised its potential to improve the sector.

Darma also disclosed that abandoned housing projects funded by the Federal Mortgage Bank of Nigeria (FMBN) across the country were worth about N38 billion.

He said a survey conducted by the ministry revealed abandoned FMBN-funded housing developments in every state of the federation, including the Federal Capital Territory.

“We realised about N38 billion of contributors’ money, your own money, all the Nigerian workers’ money. N38 billion is wasted,” he said.

He said that the poor management of workers’ contributions could discourage Nigerians from contributing to the National Housing Fund.

The minister urged the committee handling the proposed legislation to ensure that state governments were included in the regulatory framework.

He also called for safeguards to protect homebuyers, tenants, developers and mortgage lenders, including mandatory escrow accounts for buyers and standardised tenancy agreements.

The Managing Director and Chief Executive Officer of the Ministry of Finance Incorporated (MOFI), Dr Armstrong Takang, said effective regulation was necessary to restore investor confidence in Nigeria’s real estate sector.

Takang said the sector contributed 12.71 per cent to Nigeria’s Gross Domestic Product (GDP) as of June 2026, but remained largely unregulated.

He said the absence of a national licensing system had allowed unqualified individuals to operate as estate agents and developers without adequate accountability.

“Anyone can sell land, anyone can collect off-plan payments, run into tens of billions and get away with it. There are very few countries in the world where these are allowed,” he said.

He called for mandatory licensing of real estate operators and the protection of buyers’ funds through designated project accounts.

“An operator must be licensed with the authorities. No one should be operating in the real estate sector without a licence, no matter which part of the value chain they are involved in,” he said.

He added that buyers’ funds should be kept in protected project accounts and released to developers based on evidence of progress on construction.

Takang said effective regulation would attract domestic and foreign investment, protect citizens and support the Federal Government’s one-trillion-dollar economy target.

He urged the National Assembly to ensure the passage of the proposed legislation, describing it as critical to bringing order and transparency to the real estate sector.

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